Unchained
Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress - Ep. 651
May 24, 2024
U.S. Senator Cynthia Lummis of Wyoming, a staunch advocate for cryptocurrency, discusses why bipartisan support for crypto legislation is gaining momentum. She explains the surprising approval of spot ether ETFs and her discontent with the SEC's regulatory approach, deeming it 'not the American way.' Lummis shares insights on the need for stablecoin regulations and the importance of treating Wyoming-chartered Custodia Bank fairly. With the upcoming elections, she highlights how crypto is becoming more influential in politics, urging clearer guidelines for the industry.
50:44
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Quick takeaways
- Bipartisan support led to regulatory changes for crypto in Congress.
- SEC's sudden approval of spot Ether ETFs raised questions about its decision-making processes.
Deep dives
SEC approves spot Ethereum ETFs amid speculation for the next asset approval
The US Securities and Exchange Commission has approved eight spot Ethereum ETFs, including those from BlackRock, Fidelity, and Grayscale. The approval follows just four months after the first spot Bitcoin ETFs were approved, signaling a significant shift in the SEC's engagement with issuers. Experts speculate about the next approved asset, with some favoring Solana and others mentioning Dogecoin or Litecoin as potential candidates. The unexpected approval has raised discussions around the SEC's recent decision-making processes and its implications for future asset approvals.
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